This from the Fed’s longest serving policy maker, who remains hopelessly out of paradigm. (The ‘encourage individuals to save’ bit is particularly telling.) Hoenig Urges Fed to Raise Interest Rates May 28 (CNBC) —Federal Reserve Bank of Kansas City President Thomas Hoenig, the central bank’s longest-serving policy maker, said the U.S. needs
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This is the second time he’s said this in the last couple of weeks. If he’s right about the Saudis wanting that price, that’s where the price will go. Alwaleed: Saudis Seek Oil Price of $70-$80 May 29 (CNBC) —Prince Alwaleed bin Talal said an oil price of $70 to $80 a
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In the land of the blind, the one eyed man gets his good eye poked out. While the statement regarding the US is perhaps a tad on the soft side, globally, political will and public support appears firmly in place for further stagnation and a too large output gap for the foreseeable
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Juncker, EU minister and erstwhile unofficial IMF policy spokeman: > > (email exchange) > > Referring to questions about Greece’s prospects for restructuring in the absence of a > stabilization course: > “If the donkey were a cat it could climb a tree. But it is not a cat. Nevertheless, this is a question that
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Not good for this part of the cycle, as we remain grossly overtaxed for the size govt we have Consumer Spending Cools More Than Estimated By Shobhana Chandra May 26 (Bloomberg) — Consumer spending cooled in the first quarter more than previously estimated as the jump in food and fuel costs held
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Just in case you thought former President Clinton ever understood the monetary system: Bill Clinton: Brief Debt Default ‘Might Not Be Calamitous’ “We regret if there has been a misinterpretation of a comment President Clinton made about raising the debt limit. President Clinton did not in any way mean to suggest that
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RBS: China: Where is the slowdown? Very good, tends to support some of my ongoing themes: China will produce more of its own resources. Higher rates don’t bring down demand, and probably increase it. It’s the fiscal tightening, directly or indirectly, proactive or via auto stabilizers, that ultimately cause the tree to
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